All Forum Posts by: Lynn Gadd

did i read that right?  if it passes depreciation will be until 2025?

https://taxfoundation.org/blog/bipartisan-tax-deal-2024-tax-...

The Tax Relief for American Families and Workers Act of 2024 contains the following major provisions:

Temporary R&D Expensing.

The bill would temporarily restore full expensing for domestic R&D. Since the start of 2022, companies have been required to spread deductions for investments in domestic R&D out over five years (15 years for foreign-sited R&D). This policy is known as R&D amortization and was put in place by the 2017 Tax Cuts and Jobs Act (TCJA). The tax deal would return to R&D expensing for R&D occurring within the United States, applying retroactively for the 2022 and 2023 tax years and continuing until the end of 2025.

Temporary Full Expensing for Short-Lived Assets (100 Percent Bonus Depreciation).

The bill would temporarily restore 100 percent bonus depreciation for equipment and other short-lived capital assets. The TCJA allowed companies to fully deduct the cost of short-lived investments immediately, from the fourth quarter of 2017 until the end of 2022, after which it started to phase out by 20 percentage points per year: in 2023, companies were able to deduct 80 percent of their short-lived investment costs immediately; this year, companies will be able to deduct 60 percent immediately; and so on. The bill would restore 100 percent bonus depreciation retroactively for investments made since the end of 2022 and maintain 100 percent bonus depreciation until the end of 2025.

 Thank you so much for this info.

It took half a day but he responded it was not intended for me.  There was nothing I could do anyway unless there was missed rent or damage but I was just startled by the comment even if it was for someone else.  In oregon at least you get 60 days heads up with being laid off- I would expect it more from tenants from properties in my other states, lol.  Hope it works out for him and we can all move forward.

Very true, all i can do is document everything to have the paper trail once things start escalating to the grounds where i can evict based on rent owed or damages- i just can’t imagine texting that to anybody- not just a landlord. 

I have a renter that just moved in my rental on August. Yesterday he tells me he just got laid off effective immediately and that he will be searching for a job- i replied back i was so sorry to hear that and good luck with the job search he said he was doing - his reply back was “You are a pathetic farce of a human being. Die in hell.”

Um- my property is a nice property across from nike and i as a female do not take well to that sort of verbal abuse from a man.  I want him out but know oregon has strict renter laws.  I self manage my property- any thoughts of resources to escalate this to authorities and how to evict?  

Thank you.  Yes, that's what I thought...I saw some with a teaser 6 month intro then bumped up to high 7 or 8's after.....the ones I did see from google search were from old ads not updated in like two years, lol. 

I am looking to purchase a house in austin and found an assumable VÁ loan that would give me about a 3.25- which is great- but i would have to finance the remaining 400k price difference - and with only 100k cash to throw in, leaves me with looking at 300k heloc to pull from my other house.

(820 purchase- 420 assumable-100k cash - need 300 heloc)

I have seen the lowest helocs at 7.8 but go up to 9 or 10 which would kind of defeat the purpose of the assumable loan.

Anyone know of any credit union 5% heloc and not just 6 month intro offer?

I’m thinking a conventional in the 6’s might make more sense if I can’t find a decent heloc rate.

Just trying to get some ideas on construction loan.  I am thinking about building a house in Austin area (lot not purchased yet either).  I am trying to think of what would work best- one time construction loan, borrow against 401K, selling stocks, or pulling out equity I have in other rentals?

401K I get to pay myself the interest but at a higher rate.  If I sell stocks, I have to pay taxes.....I have some good equity in rentals....I don't know, just trying to get options that leverage the most out of what I have.....

I'm looking at a lot 200-300K range and house smaller in about 400K to build...maybe its better to do land with equity since land loans seem to be higher unless you do the one closing cost construction loans....

I have not done a new build on my own before so anyone who has done this while leveraging their options, please let me know.

I have 2 properties I am looking to unload- one is a single family home across from Nike in Beaverton, OR and one is a 12.26 AG exempt acreage with improvements and utilities 1 hr south of Ft. Worth.  Since I have a renter in the single family and have to wait until Sep 1 to not pay short term gains, wouldn't mind pitching it to a 1031 exchange since I believe with today's multiple offers and seller's wanting clean contracts, it would be a win/win?  Anyone have any ideas where to pitch properties for investors looking for 1031 properties in this crazy market?

Thank you- so does that mean if i do partial  like 25% of my profit- they can return the 75% after i close on the partial and i just pay the taxes on the 75% profit that was cash?  Thank you again - this is very helpful